Global silver nanoparticles market is expected to witness growth on account of rising demand from various industries such as electronics, appliances, textiles and medical. Furthermore, increasing application scope of silver nanoparticles in chemicals, catalysts, silver conductive inks and optical electronics is expected to fuel the market growth over the forecast period. Silver nanoparticles are also used as an ingredient for air purifiers, water purifiers and inks that are used in inkjets. Rising demand for radio frequency identification (RFI) devices in developed and developing regions owing to growth and development of the electronics industry is expected to fuel silver nanoparticles market over the forecast period. In addition, the increasing need for touch screens, LED and OLED display and lighting in devices such as mobile phones, computers, and kiosks are anticipated to augment silver nanoparticles growth in electronics sector over the projected period.
Increasing R&D coupled with technological advancements to develop “improved” nanoparticles is expected to fuel market growth over the forecast period. However, regulatory agencies such as EPA and European Commission have restricted commercialization of silver nanoparticles which is likely to hamper market growth over the forecast period. Silver nanoparticles are also used in the textile & fabrics industry owing to increasing application scope in sportswear, automobile textiles, military clothing and military textiles. This is expected to provide new opportunities for market growth.
Global silver nanoparticles market, by application, 2012 - 2022 (Tons)
Healthcare was the largest application segment of silver nanoparticles and is also likely to be the fastest growing segment in light of various properties exhibited by it. The growing demand for prevention of microbial and fungal infection in hospitals coupled with high sensitivity and calibration exhibited by silver nanoparticle enhanced equipment are likely to be the contributing factors responsible for the growth of silver nanoparticles market over the forecast period. Electronics was the second largest application segment in the silver nanoparticles market share and is expected to witness significant growth over the forecast period. Increase in demand for products having higher operational and shelf life, high processing capability and enhanced functional properties is expected to fuel the growth of the silver nanoparticles market over the forecast period.
Textile application segment is expected to witness significant growth over the forecast period owing to the increase in demand for silver nanoparticles owing to increasing application scope in sportswear, automobile textiles, military clothing and medical textiles. Global silver nanoparticles market is estimated to witness high growth on the account of increasing applications in waste water treatment and ecosystem management.
North America was the largest silver nanoparticles markets owing to new product developments and growing preference towards advanced electronic devices in the region in 2014. Rising investments in R&D by key market players is anticipated to fuel the market growth. Asia Pacific was the second largest market in terms of revenue and is expected to witness above average growth in the silver nanoparticles market over the forecast period owing to improvement of technology in devices and increasing the disposable income of consumers.
Key market participants include American Elements, Applied Nanotech, Cline Scientific, Emfutur Technologies, Meliorum Technologies, Nanocs, Nanoshel, and NanoHorizons. In June 2014, the University of California, Santa Barbara designed a nanoparticle that targets tumor cells by means of releasing peptides. In August 2012, Applied Nanotech unveiled the design of new product called micro copper ink. This technology was used in printing ink and ink jets to improve the efficiency and productivity of printing inks. Cima Nanotech developed the proprietary SANTE (Self-Assembling Nanotech Technology) which is an innovative coating material that self-assemblies into the random mesh-like network when coated on to a substrate and also unveiled new touch screen displays that enabled electronic device and user interface interaction to improve significantly. Taiyo developed new technologies that enabled silver nanoparticles to become more compatible with palladium. This helped in the process of making palladium a better catalyst for fuel cells as it would enable the production of hydrogen from liquid fuel to be stored in a disposable or recycled cartridge, creating miniature fuel cells which had the potential to power every electrical and electronic device.
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